VOXX International (VOXX) Raised to “Hold” at Zacks Investment Research
VOXX International (NASDAQ:VOXX) was upgraded by Zacks Investment Research from a “strong sell” rating to a “hold” rating in a research report issued on Wednesday.
According to Zacks, “VOXX International Corporation is engaged in marketing automobile sound, vehicle security, mobile video systems, and consumer electronics products. The Company markets its products under the RCA, Acoustic Research and TERK brands. VOXX International Corporation, formerly known as Audiovox Corporation, is headquartered in Hauppauge, New York. “
Separately, TheStreet lowered shares of VOXX International from a “c-” rating to a “d+” rating in a research report on Tuesday, October 24th.
VOXX International (NASDAQ:VOXX) last posted its quarterly earnings results on Tuesday, October 10th. The auto parts company reported ($0.74) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.01) by ($0.73). VOXX International had a negative return on equity of 3.77% and a net margin of 3.10%. The business had revenue of $113.50 million for the quarter, compared to analysts’ expectations of $163.00 million. During the same period in the prior year, the business posted $0.12 earnings per share. The business’s quarterly revenue was down 4.1% compared to the same quarter last year. analysts expect that VOXX International will post -0.58 EPS for the current year.
A number of institutional investors and hedge funds have recently bought and sold shares of VOXX. Kahn Brothers Group Inc. DE raised its position in VOXX International by 58.2% during the 3rd quarter. Kahn Brothers Group Inc. DE now owns 3,651,902 shares of the auto parts company’s stock worth $31,224,000 after buying an additional 1,343,600 shares during the last quarter. State Street Corp raised its position in VOXX International by 1,731.7% during the 2nd quarter. State Street Corp now owns 230,760 shares of the auto parts company’s stock worth $1,893,000 after buying an additional 218,162 shares during the last quarter. Northern Trust Corp raised its position in VOXX International by 301.0% during the 2nd quarter. Northern Trust Corp now owns 231,389 shares of the auto parts company’s stock worth $1,898,000 after buying an additional 173,683 shares during the last quarter. Wells Fargo & Company MN increased its holdings in shares of VOXX International by 167.1% during the 2nd quarter. Wells Fargo & Company MN now owns 173,800 shares of the auto parts company’s stock valued at $1,426,000 after purchasing an additional 108,725 shares in the last quarter. Finally, Citigroup Inc. increased its holdings in shares of VOXX International by 664.2% during the 2nd quarter. Citigroup Inc. now owns 90,821 shares of the auto parts company’s stock valued at $745,000 after purchasing an additional 78,936 shares in the last quarter. 62.29% of the stock is owned by institutional investors.
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VOXX International Company Profile
VOXX International Corporation is an international manufacturer and distributor in the automotive, audio and consumer accessories industries. The Company’s segments include Automotive, Premium Audio and Consumer Accessories. The Automotive segment designs, manufactures, distributes and markets rear-seat entertainment devices, satellite radio products, remote start systems, digital television tuners, mobile antennas, mobile multimedia devices, car link-smartphone telematics application, collision avoidance systems and others.
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